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SNAPSHOT S&P futures drop as jobless claims data stokes slowdown fears


Traders work on the trading floor at the New York Stock Exchange (NYSE) in New York City, U.S., March 31, 2023. REUTERS/Andrew Kelly

Futures tracking the benchmark S&P 500 index extended declines on Thursday as stronger-than-expected weekly jobless claims data deepened fears of a recession due to a rapid rise in interest rates.

A Labor Department report showed initial claims for state unemployment benefits stood at 228,000 last week. Economists polled by Reuters had expected 200,000 jobless claims in the latest week.

At 8:32 a.m. ET, Dow e-minis were down 5 points, or 0.01%, S&P 500 e-minis were down 3.5 points, or 0.09%, and Nasdaq 100 e-minis were down 43.25 points, or 0.33%.

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